Cloudiax is a new affordable, secure and fast cloud platform, optimized for SAP Business One on HANA and SQL. It simplifies a business with an easy-to-use, fast and cost effective solution. Cloudiax helps a business handle growth more easily.Read More
Inventory Planning Blog
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- MRP for manufacturing
- DRP for Distribution
- Promotional Planning for Retail
- Parts planning for MRO and Aftermarket Service Parts
Individually, these solutions may do a good job of managing a specific inventory need but today businesses have morphed into multi-faceted, multi-customer facing companies. At the start or top is manufacturing, which feeds all other outlets like distribution and retail.Read More
An inefficient supply chain leads to many issues, among them excess and inactive items, lower than desired customer service levels, out of stocks, higher transportation costs, lost sales and employee and customer dissatisfaction. These inefficiencies result from the lack of proper planning tools, no inventory strategy, poorly trained inventory planners, lack of management support, incomplete inventory visibility, and or unrealistic goals.Read More
Cloud applications for business are becoming more plentiful. Solutions specifically built for the web are in great demand around the world. Companies are deciding to employ a cloud model to reduce capital and operational expenditure, reduce costs, increase business agility, and boost their ability to deliver IT on demand. Supply chain planning is a prime process for the Cloud.Read More
Your company has mission to be the best supplier of your products on the market today. Most companies define what that means in terms of serving the customer. For example, your customers can send you an order and get a return confirmation promptly. You will ship all orders within 24 hours. You will offer a variety of products that is both broad and deep. All great goals to build and grow a business. Now, you go out and spend a ton of money on the inventory. To buy smart, you use economic ordered quantities (EOQ) and take advantage of your vendor’s special deals.Read More
Inventory Performance Improved with Inventory Optimization & Analytics
In simple terms, inventory optimization balances the investment in an inventory to achieve a targeted service level or order fill-rate. There are also financial considerations, constraints that can also be applied in the development of the algorithm. These highly complex algorithms work behind the scene so as not to confuse the user or make them fearful of using optimization to help manage their inventory.
Inventory planning managers are looking for simple ways to reduce waste and improve profitability. It is becoming more apparent that advanced technology can dramatically help but the technology must be affordable, quick to implement, and have a high rate of return (ROI). But global supply chains and competition have increased the complexity and risk.
Advanced inventory planning and optimization solutions enhance the MRP process by automating inventory planning and replenishment. It automatically selects the best forecast algorithm for every item at every location and creates a rolling forecast of from 12 to 36 months. The solution then calculates an optimal stocking quantity for each item based on many critical variables like the lead time, order frequency, and target service level. Variability in demand is also considered along with other key factors ensuring the right amount of stock is available without creating an overstocked situation.
The year 2015 brings a solid outlook of improving global economies and growth opportunities. Balancing near term resilience with longer-term objectives is what is needed now. Reducing costs, buying less, increasing productivity, improving cash flow are critical. Keeping these inventory objectives balanced and in perspective, you need an effective way to rationalize and prioritize important business demands. Improve your competitive advantage responsibly and efficiently without incurring major costs should be at the top of your list. Waiting until its too late in your ordering cycles will invite your customers to buy elsewhere. Reducing the wrong items at the wrong time only exacerbates the issue.
If your company tends to reduce items with the highest investment because it creates a larger reduction faster, what it actually does is create potential stock outs, more backorders and increased expedited shipping – and, even more importantly, customer dissatisfaction. We all know that when customers are unhappy they become former customers. Randomly cutting inventory has been proven repeatedly to be the wrong strategy as does overstocking your inventory. As supply chains grow more complex, manual planning using spreadsheets can cause losses. Yes, you can create them to be specific to your business but they are hindering your growth.
Now, more than ever, you have many affordable choices for improving your inventory investment and performance. The Cloud is a viable alternative to investing in On-Premise inventory software. Software-as-a-Service (SaaS) provides an affordable and flexible way to utilize some of the most powerful inventory planning solutions on the market.
Why should you be interested? SaaS applications provide many benefits you just cannot achieve on-premise. Benefits include:
Lower upfront capital: By going to a SaaS model, you avoid the up-front capital requirements and funding requests, and pay for the software as an on-going expense.
Faster implementation: There is generally less overall set-up time, and in some cases, companies can often leverage the hosted solution’s existing integrations with existing key ERP solutions.
Faster “time-to-value”: Given a more rapid implementation, the time-to-value and positive cash flow returns are more rapid than a traditionally deployed on-premise implementation.
Reduced internal IT resource requirements: No installed application software or hardware to manage over time.
Overcome objections to best-of-breed software: Some companies are finding that they are able to overcome the objections or rules against implementing software that does not come from the company’s ERP provider if they use a SaaS model.
Fit for “on-demand” usage: Users can truly access these solutions when they need them anytime and anywhere 24x7.
Staying current with technology: The software will periodically be automatically upgraded with enhancements to functionality. This should serve to keep users on the current platform, and keep them from falling behind the state of the art over time, sometimes badly so.
So, before you wait another moment, do yourself, your employees, and your customers a favor. Take a serious look at Cloud-based inventory planning and optimization solutions and begin 2015 with a clear path to success.
Advanced Inventory Planning – The Cloud – Omnichannel – Global Logistics
Changes are occurring at lightning speed for all of us today. Consumers and companies alike have to contend with minute-by-minute information and change. The Cloud – Advanced Inventory Planning – Omnichannel – Social Media and much more impact today’s businesses. The options dazzle the mind, do we stay the course or change a little or change a lot.
Cloud applications for business are becoming more plentiful. Solutions specifically built for the web are in great demand around the world. Companies are deciding to employ a cloud model to reduce capital and operational expenditure, reduce costs, increase business agility, and boost their ability to deliver IT on demand.
Cloud computing provides you with the flexibility you need for easy inventory planning. Cloud computing today has real meaning and positive impact for companies in a true global economy. The future is that more business applications for mobile computing will be available and virtual software appliances are being developed.
Companies approach their inventory planning in many different ways - from seat of the pants guessing, to team collaboration, to spreadsheets that may invoke more team collaboration and manual changes, to forecasting software and some to advanced planning solutions.
When it is all said and done most companies stay the course when it comes to inventory planning. There is fear to learning something new. Things can go wrong, lots of time to learn about new methods and ways of planning. Staying the course is felt to be safest route.
People are creatures of habit, which is one reason why spreadsheets and reports are reused from year to year. Unfortunately, after cutting and pasting information, the spreadsheet might not work the way it did before — formulas can be damaged, links can be broken, or cells can be overwritten. It is also a case of “you don’t know what you don’t know”. Meaning, people are unaware of the availability of easy to use affordable, automated inventory planning software.
One aspect that needs consideration is what are you competitors doing or likely to do. Are they staying the course or are they adopting new methods and technologies to improve their business performance?
Using custom reports and spreadsheets as the primary method in inventory planning is doing yourself, your company, and your customers a disservice. Using precious company resources to develop custom reports for inventory management is wasteful. Reports and spreadsheets are useful but not to manage your inventory. Instead, purchase a complete advanced inventory planning and optimization solution. It will reduce your planning time by up to 90% and dramatically improve your inventory mix while lowering costs.
The Cloud and advanced inventory planning is a winning combination. These combination of technologies allows you to work smarter by easily adapting all aspects of inventory management into one advanced, simple-to-use software product any time anywhere. The software lets all levels of employees understand and use the system. Instead of having one staff member dedicated to inventory planning, any employee can quickly learn and operate the software. Utilizing existing staff helps to keep costs low while expanding their capabilities.
Advanced inventory planning and optimization software not only automates the entire planning process, it dramatically increases the positive cash flow of a company. By smartly reducing inventory investment, reducing stock-outs, decreasing expedited shipping costs, and reducing planning time all contribute to more available cash. Add to that increased sales and productivity and the gains will also lead to an improved competitive advantage.
Anthony "Tony" Robbins is an American life coach, self-help author, and motivational speaker. He said, “Change happens when the pain of staying the same is greater than the pain of change.”